TravelbyBit Crypto Travel Company To Utilize Binance’s BNB Coin For All Merchant Partners
The tourism crypto payments startup TravelbyBit recently announced that they would incorporate BNB into its ecosystem and network of merchants. This will include shopping at the crypto-ready Brisbane airport in Australia.
Binance announced that it would invest $2.5 million in TravelbyBit on October 6, 2018. The company has quickly followed with plans to integrate the BNB crypto coin across their platform and partner retailers.
@TravelbyBit is proud to be part of the @binance ecosystem. A purpose driven ecosystem around blockchain adoption and bringing social good to those who need it most in this world. @HelenHaiyu keep up the great work~! https://t.co/Yc2ueopZ5k
— TravelbyBit (@TravelbyBit) October 24, 2018
Brisbane Airport Partnership
At the start of 2018, TravelbyBit entered into a partnership with Brisbane airport. This would allow the company to bring crypto payment capabilities to the shopping of Brisbane Airport. With this deal, various retailers and news outlets will be able to accept crypto payment of some of the most popular crypto coins. With this new deal, they can now accept BNB.
At the time, the General Manager for Strategic Planning and Development at Brisbane Airport Corporation explained why they added crypto. He said that many people globally had invested in crypto. He also noted that many of them also travel by plane. Thus, offering them the ability to pay with crypto at airports made sense.
More Utility For BNB
The position of TravelbyBit in the Brisbane Airport and its network of hundreds of partners across Brisbane will increase utility for BNB. A bar in Australia already accepts payment in BNB with TRavelbyBit via the Trust wallet.
According to the CEO of TravelbyBit, he formed the company and focused on the airport retail for specific reasons. One reason is that he was always hanging out in the transit area at airports. He compares the exchange rate at airports as daylight robbery. The fees charged and the inconveniences of multiple currencies can be a nightmare. This is what inspired him. He had the vision to create a global currency that does not have any fees.
Yeoh, the TravelbyBit CEO met with the CEO of Binance Zhao in Malta to discuss the increased use of crypto for global payments.
According to Yeoh, it is shocking the number of people that support the project simply due to the philosophy behind crypto, which is liberty and freedom. With the backing of Binance, the startup is in discussion to bring crypto payments to airports and lounges globally. To increase the mass use of this platform, they hope to channel some of the 10 million strong users on Binance to its partners.
The Binance Quest For Partnerships
Zhao heads Binance. The company is pushing ahead with plans to forge partnerships in the crypto and blockchain world. The Blockchain Charity Foundation by Binance is working with the Tron Foundation and the UN Development Programme to introduce crypto into the world of charitable giving.
Vertex Ventures also made a significant investment into the company this month. This will help it establish a fiat-to-crypto exchange based in Singapore. It also plans to reach into Africa by launching a fiat-to-crypto exchange in Uganda. There does not appear to be a break in Binance’s plan to establish in every part of the crypto world.